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Valdymo koordinavimo centras

State Owned Enterprises

Geoterma is a state-owned company established in 1991 and later reorganized into a private limited company. The main activity of the Company is the production of hot water in Klaipėda’s demonstration geothermal power plant (KPGJ). Heat is produced by extracting it from low-temperature geothermal water and burning natural gas. The majority of heat is sold by AB Klaipėdos energija.

Financial results

P/L Statment

2014 2015 2016
Revenue 2,094 1,253 1,228
Cost of goods sold 2,489 1,450 1,452
Gross profit -395 -198 -223
Gross profit margin -19% -16% -18%
Operating expenses 262 221 259
Operating profit -657 -418 -482
Operating profit margin -31% -33% -39%
EBITDA -121 -3 -45
EBITDA margin -6% -0% -4%
Net profit -465 -369 -456
Net profit margin -22% -29% -37%
2016 Q4 2017 Q2
Revenue 301 928
Cost of goods sold 548 904
Gross profit -247 23
Gross profit margin -82% 3%
Operating expenses 155 103
Operating profit -402 -80
Operating profit margin -134% -9%
EBITDA -129 85
EBITDA margin -43% 9%
Net profit -360 -96
Net profit margin -119% -10%

Balance sheet

2014 2015 2016
Non-current assets 7,402 6,732 5,822
Intangible assets 0 0 0
Tangible assets 7,402 6,732 5,822
Financial assets 0 0 0
Other non-current assets 0 0 0
Biological assets 0 0 0
Current assets 490 320 285
Inventories and prepaid expenses 59 49 44
Accounts receivable in one year 414 266 202
Other non-current assets 0 0 0
Cash and cash equivalents 17 6 39
Total assets 7,892 7,052 6,107
Equity -432 -793 -1,348
Minority share of capital 0 0 0
Grants and subsidies 4,566 4,137 3,708
Liabilities 3,758 3,708 3,746
Financial liabilities 3,007 3,104 3,160
Long-term liabilities 1,507 943 394
Short-term liabilities 2,251 2,765 3,353
Equity and liabilities 7,892 7,052 6,107
2016 Q4 2017 Q2
Non-current assets 5,822 5,822
Intangible assets 0 0
Tangible assets 5,822 5,822
Financial assets 0 0
Other non-current assets 0 0
Biological assets 0 0
Current assets 285 285
Inventories and prepaid expenses 44 44
Accounts receivable in one year 202 202
Other non-current assets 0 0
Cash and cash equivalents 39 39
Total assets 6,107 6,107
Equity -1,348 -1,348
Minority share of capital 0 0
Grants and subsidies 3,708 3,708
Liabilities 3,746 3,746
Financial liabilities 3,160 3,160
Long-term liabilities 394 394
Short-term liabilities 3,353 3,353
Equity and liabilities 6,107 6,107

Financial ratios

2014 2015 2016
Capital return ratios
Return on assets (ROA) -6% -5% -7%
Return on equity (ROE) 0% 60% 42%
Return on capital employed (ROCE) 0% -7% -12%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.38 0.44 0.52
Current Ratio 0.22 0.12 0.08
Quick ratio 0.19 0.10 0.07
Turnover ratios
Asset turnover 0.25 0.17 0.19
Fixed asset turnover 0.27 0.18 0.20
Equity turnover -10.23 -2.04 -1.14
Profitability ratios
EBITDA margin -6% -0% -4%
Operating profit margin -31% -33% -39%
Net profit margin -22% -29% -37%
Other ratios
Dividends to the State 0.00 0.00 0.00
Dividends paid / net profit 0.00 0.00 0.00
2016 Q4 2017 Q2
Capital return ratios
Return on assets (ROA) -7% -7%
Return on equity (ROE) 42% 41%
Return on capital employed (ROCE) -12% -13%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.52 0.52
Current Ratio 0.08 0.08
Quick ratio 0.07 0.07
Turnover ratios
Asset turnover 0.19 0.20
Fixed asset turnover 0.20 0.20
Equity turnover -1.14 -1.10
Profitability ratios
EBITDA margin -43% 9%
Operating profit margin -134% -9%
Net profit margin -119% -10%
Other ratios
Dividends to the State 0.00
Dividends paid / net profit 0.00

Expectations of the state

About the company

  • Official nameUAB „Geoterma“
  • Legal formPrivate limited liability company (UAB)
  • Company code123540818
  • SectorEnergy
  • Line of businessProduction of thermal energy
  • Institution representing the StateVĮ Turto bankas
  • Share belonging to the State99.09%
http://geoterma.lt/

Financial data provided as at end-December 2017

Management

  • Bankroto administratorė Raminta ValiulienėDirector General

Information as of: 2019/09/01